Job Market Monitor
European Union
EU – Stimulating car industry
The European Union on Thursday launched an action plan to bolster the struggling car industry – its first concerted response to a worsening crisis that is hurting some of the continent’s biggest companies and endangering tens of thousands of jobs. Carmakers welcomed the plan’s long-term measures to support the sector but urged the EU to … Continue reading
Europe Youth Unemployment and the EU Youth Strategy
Youth unemployment is rising steadily in the EU as the economic crisis in Europe deepens. The latest data reveals an EU-wide youth unemployment rate of 22.8 percent, up from 21.7 percent a year ago as those under 25 continue to lose their jobs to the economic slowdown… Click here to see each country’s unemployment stats … Continue reading
Euro-zone – Unemployment rate hits record 11.6%
The euro area (EA17) seasonally-adjusted unemployment rate was 11.6% in September 2012, up from 11.5% in August. The EU27 unemployment rate was 10.6% in September 2012, stable compared with August. In both zones, rates have risen significantly compared with September 2011, when they were 10.3% and 9.8% respectively. These figures are published by Eurostat, the statistical office of the European Union. Eurostat … Continue reading
14 million young people are NEET: not in employment, education or training
Some 14 million young people are not in employment, education or training across the EU as a whole. However rates vary widely from from around 5.5% of 15-24 year olds in the Netherlands to 22.7% in Italy. The economic cost of not integrating NEETs is estimated at over €150 billion, or 1.2% of GDP, in … Continue reading
Europe not doing enough on jobs and growth
The national governments of Europe are not doing enough to create jobs and growth. The president of the European Commission, Jose Manuel Barroso, delivered this message after meeting with representatives of employers and trade unions in Brussels. Barroso called for immediate action. The crisis is going on unabated. Average unemployment in the EU is over … Continue reading
EU – Trade Unions – Austerity and industrial policy ‘absolutely contradictory’
Trade unions say the European Commission’s new industrial policy must be followed up with concrete actions. The European Commission published a communication on industrial policy last week, attempting to re-launch manufacturing industry and calling fora “new industrial revolution” in Europe. The industry is ready to lead the revolution, but it needs the right instruments, European … Continue reading
Europe – School Cuts Will Sacrifice the Future
When the European Students’ Union begins its biannual convention Wednesday in the Cypriot resort of Limassol, its leadership will be focusing on one issue: cutbacks in education. Governments in many countries in the European Union are cutting back so much on education that when the E.U. economy recovers, it will be difficult to sustain growth, … Continue reading
UE – SME: further policy boost needed to help in recovery
Europe’s Small and Medium Sized enterprises (SMEs) continue to strive for recovery. If we take the EU as a whole so far their overall efforts have mainly led to ‘jobless’ growth, as shown by diverging trends in the EU-27 Member States. Today in Brussels, the first day of the 2012 European SME week, the European … Continue reading
The world is stuck in a vicious cycle writes Lawrence Summers
If the global economy was in trouble before the annual World Bank and IMF meetings in Tokyo last week, it is hard to believe that it is now smooth sailing. Indeed, apart from the modest stimulus provided to the Japanese economy by all the official visitors and the wealthy financial sector hangers on, it is … Continue reading
US unemployment rate is bad, eurozone is worse and Greece leads in youth unemployment (53.8%)
Euro area unemployment rate at 11.3% EU27 at 10.4%. The euro area (EA17) seasonally-adjusted unemployment rate was 11.3% in July 2012, stable compared with June. It was 10.1% in July 2011. The EU27 unemployment rate was 10.4% in July 2012, also stable compared with June. It was 9.6% in July 2011. Eurostat estimates that 25.254 million men and women in the EU27, of … Continue reading
Europe – Branding for Increased Poverty
Record high unemployment in the EU has forced some of the larger consumer goods companies to shift marketing strategies. They target poverty-stricken Europeans’ demand for cheaper goods in the midst of an economic crisis. Unilever – the third-largest consumer goods company in the world, which manufactures hundreds of brands like Aviance, Ben & Jerry’s, Dove … Continue reading
Unemployment Rates – U.S. vs other ‘mature’ economies – A Graph
How does the performance of the American economy compare to other similar economies–i.e., “mature” market economies, with high per capita GDP. With that in mind, take a look at this graph of unemployment rates over the past 12 years, and at my comments on it below. Focus on the maroon, yellow, and light blue lines. … Continue reading
Europe – Hierarchies ‘stifle innovation at work’ and Chinese better at fostering ideas from junior staff, claims report
Workplaces in Europe are failing to make the most of innovative ideas from junior members of staff because of an ingrained hierarchical approach, a study has claimed. Only 8 per cent of European respondents to the KPMG Tech Innovation Survey said that their organization was good at ‘spotting and nurturing innovation from the bottom up’. … Continue reading
Euro-Area Unemployment Rate at a Record 11.2% for Two Months in a Row
The euro area (EA17) seasonally-adjusted unemployment rate was 11.2% in June 2012, stable compared with May. It was 10.0% in June 2011. The EU27 unemployment rate was 10.4% in June 2012, also stable compared with May. It was 9.5% in June 2011. Eurostat estimates that 25.112 million men and women in the EU27, of whom 17.801 million … Continue reading
Greece – In Great Depression PM says
Greece is in a “Great Depression” similar to the American one in the 1930s, the country’s Prime Minister Antonis Samaras told former U.S. President Bill Clinton on Sunday. Samaras was speaking two days before a team of Greece’s international lenders arrive in Athens to push for further cuts needed for the debt-laden country to qualify … Continue reading
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